Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Property, Plant and Equipment

Depreciation for property, plant and equipment, other than land and construction in progress, is based upon the following estimated useful lives using the straight-line method:


Building and building improvements			20 to 39 years
Leasehold improvements			Lesser of lease term or useful life of asset
Machinery and equipment			2 to 15 years
Furniture and fixtures			3 to 5 years

Property, plant and equipment at cost and accumulated depreciation were as follows:


	As of December 31,
(in millions)	2023		2022
Land(1)	$	9.0	$	2.5
Building and building improvements(2)	205.3		163.9
Machinery and equipment	572.2		527.0
Furniture and fixtures	18.1		17.2
Leasehold improvements	16.0		11.7
Construction in process	137.5		112.3
Property, plant and equipment, gross	958.1		834.6
Less: accumulated depreciation(2)	(293.2)		(234.7)
Property, plant and equipment, net	$	664.9	$	599.9

(1) Includes $6.5 million of land at December 31, 2023 related to the finance lease discussed in Note 15.

(2) Includes $31.7 million of building and building improvements and $0.4 million of accumulated depreciation at December 31, 2023 related to the finance lease discussed in Note 15.

Schedule of Intangible Assets with Finite Useful Life

Intangible assets with finite useful lives are amortized based on the pattern in which the economic benefits of the assets are estimated to be consumed over the following estimated useful lives of the assets:


Customer relationships			14 years
Internal-use software			3 to 5 years
Developed technology			13 to 15 years
Patents			8 to 15 years

The gross carrying amount, accumulated amortization and net book value of intangible assets at the end of each period were as follows:


	As of December 31,
	2023						2022
(in millions)	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value
Customer relationships	$	43.2	$	(30.9)	$	12.3	$	43.2	$	(27.5)	$	15.7
Internal-use software	43.1		(13.9)		29.2		34.8		(12.0)		22.8
Developed technology(1)	27.4		(3.0)		24.4		27.4		(1.0)		26.4
Patents(1)	36.2		(3.4)		32.8		11.0		(0.4)		10.6
Total intangible assets	$	149.9	$	(51.2)	$	98.7	$	116.4	$	(40.9)	$	75.5

(1) Includes intangible assets acquired in December 2022. See Note 19 for additional information.